Russian firms present plans to develop Iran oilfields

TEHRAN, September 6, 2017

Russian energy companies Zarubezhneft, Gazprom Neft and Lukoil have submitted plans to National Iranian Oil Company (NIOC) to develop oilfields in Iran, a report said.

Zarubezhneft has outlined plans to increase the recovery rate of oil from the Aban and West Paydar fields, Iran Daily reported, citing Press TV.

The Russian company signed an MoU with National Iranian South Oil Company (NISOC) in July this year to conduct technical studies on Shadegan and Rag Sefid fields.

Rag Sefid was discovered in 1964 and is estimated to hold 16.5 billion barrels of reserves. Production from Shadegan, near Ahvaz, started in 1988 and the field is currently producing 70,000 barrels of oil a day.

Last month, Turkey's Unit International signed a $7-billion agreement with Zarubezhneft and Iran's Ghadir Investment Holding to explore oil and natural gas development opportunities in Iran.

Gazprom Neft has also submitted a plan to develop Changouleh and Cheshmeh Khosh fields under an MoU signed with NIOC in December last year.

Meanwhile, Lukoil and Indonesia's Pertamina individually proposed plans to develop the Bangestan reservoir of the Mansouri oilfield southeast of Ahvaz, the report said.